NM Prepares $200 Million for Household Relief Program

NEW MEXICO – New Mexico Governor Michelle Lujan Grisham announced that $200 million in household relief is on its way to more than 550,000 New Mexico taxpayers. Individuals receiving funds through direct deposit are scheduled to receive at least $250.

Paper checks for another 200,000 taxpayers will begin going out in the next few days and continue over the next few weeks, the New Mexico government said.

“Throughout the summer, we are putting nearly $500 million back into the pockets of New Mexicans. Across the country, Americans are dealing with the high costs of essentials. Here in New Mexico, we are doing everything we can to provide relief to families,” said Governor Lujan Grisham.

The rebates being issued this week were approved by the governor and the Legislature in a special legislative session this spring to help New Mexico households cope with national increases in grocery prices, gasoline and other expenses.

Taxpayers filing individual returns will receive another $250 refund in August in addition to the funds disbursed this week. Those filing joint returns with a spouse or as head of household will receive refunds of $500 starting this week and another $500 in August.

The same legislation that authorized the refunds also set aside $20 million for economic relief payments to New Mexicans who do not file state income taxes because of their income levels. Only non-filers can apply for the one-time relief payments of $500 or $1,000, depending on family size. Applications are open on the Department of Human Services website until May 31, 2022, or as long as funds allow.

Taxpayers who filed their 2021 returns after the April 18 deadline and have not yet been processed will receive their refunds after they are posted. Users can check the status of their returns on the Department’s Taxpayer Access Point self-service portal.

New Mexicans who did not file a tax return in 2021 have until May 31, 2023, to file and receive a refund, unless they receive a relief payment for failure to file.

Another refund of 250 or 500, depending on filing status, will be issued to taxpayers in July. That refund, approved during the 2022 regular legislative session, will be sent automatically to New Mexicans who filed their 2021 personal income tax returns and had less than $75,000 in income for single filers and married filing separately, or less than $150,000 for married couples filing jointly, heads of household and surviving spouses.

Source: MEXICONOW Staff